Oil prices held around $108 a barrel on Wednesday, near a four-month high, as markets grappled with mounting concerns over global energy supplies following the shutdown of Saudi Arabia's East-West oil pipeline and continuing attacks on key oil and shipping routes in the Middle East.
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Saudi Arabia said its air defences intercepted and destroyed a Houthi drone south of Makkah before it could enter the prohibited airspace over the holy city, as the Kingdom faced a widening campaign of attacks by the Iran-aligned Yemeni group.
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Emirates signed 11 partnership agreements at Arabian Travel Market, covering tourism promotion, customer experiences, worker welfare and specialist travel services. Agreements were renewed with Sri Lanka, Maldives and tourism bodies, while new deals covered Ras Al Khaimah, Japan, Italy, OWWA, Cisalpina Tours and Kuwait Airways.
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Oil prices rose further on Tuesday as renewed Houthi attacks on Saudi Arabia added to growing concerns over energy supplies, with Brent crude gaining $1.58 to $107.30 a barrel and US West Texas Intermediate (WTI) rising $1.64 to $103.
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Artificial intelligence (AI) offers emerging markets significant opportunities, but also poses serious risks, said a report, highlighting the need to seize opportunities across three fronts - building digital infrastructure, data ecosystems and investing in skills - to avoid relegation to the margins of the future AI-enabled economy.
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The 33rd edition of Arabian Travel Market (ATM) opens on Monday (Sept 14) at Dubai World Trade Centre (DWTC), bringing the global travel and tourism community together for four days of business, networking, knowledge exchange and collaboration.
International developer VA Group has announced that it has secured long-term land rights in Oman’s historic Muttrah waterfront, to develop an 18.5-hectare mixed-use project, featuring a mix of residences, leisure and retail facilities within the Port Sultan Qaboos Waterfront Masterplan.
Global oil markets face a fresh supply shock after Saudi Arabia shut down its 1,200-km East-West Pipeline following multiple drone attacks, as continuing attacks on shipping in the Strait of Hormuz and a widening Houthi offensive in the Red Sea threaten to disrupt vital energy routes on both sides of the Arabian Peninsula.
Anthropic CEO Dario Amodei has called for a slower and more tightly regulated pace of artificial intelligence development, warning that the rapid acceleration of AI capabilities is beginning to outstrip the industry’s ability to understand, test and control increasingly powerful systems.
Oman's Asyad Shipping has announced that it has awarded $104 million contracts to South Korea's Hyundai Heavy Industries (HHI) for the construction of two new medium range product tankers. These vessels, which are part of Asyad Shipping’s fleet expansion strategy, will be delivered in 2029.
Saudi Arabia has shut down its East-West pipeline temporarily after the vital oil conduit came under aerial attack in the widening Middle East war, threatening to send energy prices even higher, said media reports. This 1,200-km pipeline had helped the kingdom bypass a shipping logjam in the Strait of Hormuz.
Abu Dhabi-based Fertiglobe has joined hands with leading German groups Covestro, one of the world’s top manufacturers of polymer materials, and MB Energy, a leading supplier of high-tech polymer materials, to explore joint collaboration across the ammonia value chain in Europe.
The Dubai Department of Economy and Tourism (DET) will lead the emirate’s tourism ecosystem at the 33rd edition of the Arabian Travel Market (ATM), taking place from September 14 to 17 at Dubai World Trade Centre.
Iran-aligned Houthi forces have seized the strategically vital Perim Island at the entrance to the Bab el-Mandeb Strait, potentially giving Tehran-backed fighters a powerful position over one of the world's key maritime chokepoints and threatening to further disrupt global shipping and energy supplies.
Investors, businesspeople, stakeholders, and specialists attended the fourth edition of the Jeddah International Building Exhibition (JIBEX) which opened at the Jeddah Centre for Exhibitions and Events.
Masdar and Taaleri Energia have inaugurated Serbia’s 154MW Čibuk 2 wind farm, creating the largest wind power hub in Serbia and the Western Balkans. Combined with Čibuk 1, the facilities deliver 312MW, powering 178,800 households and attracting over €500 million ($577 million) investment.
Empower has reaffirmed its support for Dubai’s sustainable tourism and hospitality growth, highlighting the role of district cooling in improving energy efficiency and reducing emissions. By end-2025, its services covered 24% of Dubai’s 827 hotel and hotel apartment facilities.
OpenAI has recently held discussions with large investors about a fresh capital raise that would increase the ChatGPT maker's valuation to about $1.2 trillion before it goes public, the Financial Times reported on Tuesday, citing people familiar with the matter.
Artificial intelligence (AI) offers emerging markets significant opportunities, but also poses serious risks, said a report, highlighting the need to seize opportunities across three fronts - building digital infrastructure, data ecosystems and investing in skills - to avoid relegation to the margins of the future AI-enabled economy.
Saudi Arabia’s Knowledge Economic City has signed an agreement with Almajdiah and Capital Hill for the development of a new residential project in Madinah at an estimated cost of SAR2.8 billion ($738 million). The project will boast around 2,700 residential apartments as well as 8,000 sqm net leasable commercial space.
Hotpack, a UAE-headquartered global leader in sustainable packaging solutions, revealed that 96% of its product portfolio is now validated as environment-friendly and recyclable.
The International Federation of Consulting Engineers (FIDIC) has launched a major new report at its Global Infrastructure Conference (GIC26) in New Delhi, setting out the evidence base for qualifications-based selection as the preferred procurement method for engineering and architectural consultancy services worldwide.
ENOC Group, an integrated global energy player, and Landmark Group, an omnichannel retail and hospitality business, have announced a strategic partnership allowing members of their YES Rewards and Shukran loyalty programmes to exchange points between the two platforms in the UAE.
Neopay, a leading payments solutions provider in the UAE, has partnered with Commercial Bank of Dubai (CBD) to help small and medium-sized enterprises (SMEs) gain easier access to financing for their working capital requirements and banking services, supporting their growth and day-to-day business needs.
OpenAI has recently held discussions with large investors about a fresh capital raise that would increase the ChatGPT maker's valuation to about $1.2 trillion before it goes public, the Financial Times reported on Tuesday, citing people familiar with the matter.
Keolis Group, a global leader in public transport, is marking five years of its partnership with Roads and Transport Authority, a collaboration that began in 2021 when the French group took over responsibility for the operation and maintenance of Dubai Metro and Tram under a 15-year contract.
Index Saudi Arabia, the country's leading trade show for interiors, furniture and fit-out, kicks off today in Riyadh bringing together some of the top global architects, interior designers and design academics for the 2026 edition, who will explore the kingdom’s evolving design and fit-out landscape.
Saudi Arabia said its air defences intercepted and destroyed a Houthi drone south of Makkah before it could enter the prohibited airspace over the holy city, as the Kingdom faced a widening campaign of attacks by the Iran-aligned Yemeni group.
